KE (NYSE:BEKE) Trading 5.6% Higher – Should You Buy?

KE Holdings Inc. (NYSE:BEKE)’s share price traded up 5.6% during mid-day trading on Tuesday . The company traded as high as $21.53 and last traded at $21.52. 1,770,120 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 7,736,811 shares. The stock had previously closed at $20.38.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BEKE. Bank of America raised shares of KE from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th. Barclays boosted their target price on shares of KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, November 25th.

KE Stock Up 5.2 %

The company has a market capitalization of $25.91 billion, a P/E ratio of 43.81, a PEG ratio of 3.45 and a beta of -0.76. The company’s fifty day moving average price is $18.13 and its 200 day moving average price is $18.44.

Hedge Funds Weigh In On KE

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in KE by 5.1% during the 4th quarter. QRG Capital Management Inc. now owns 14,395 shares of the company’s stock worth $265,000 after buying an additional 703 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of KE by 8.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company’s stock worth $173,000 after acquiring an additional 762 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of KE by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock worth $1,170,000 after acquiring an additional 1,271 shares during the period. Rakuten Securities Inc. boosted its holdings in KE by 42.3% in the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock valued at $88,000 after acquiring an additional 1,416 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in KE during the 3rd quarter valued at approximately $30,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

KE Company Profile

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.